The Budget Bill Will be negotiated between the President and Republicans. The Democrat Senate Leadership, will sit on the sidelines…

Rumour Has It…..

1) The Debt Limit will be decided and locked down until after the elections in 2012….

2) Republicans will get their vote on a balanced budget amendment….

3) A Bi-partisan commission will be formed to carve up what and what not will be eradicated from Federal spending, probably forever.

4) Close to $1 Trillion in cuts.

5) An order that if Congress fails to agree on longer-term reductions, more painful across-the-board reductions would take effect automatically…..

6) Medicare and Social Security, will feel some heat. They will not be removed from the possibility of cutbacks… They will be put on the table.

7) If Congress cannot how to balance a budget then taxes go up to pay for the budget….

The devil is in the details; we won’t know those until scholars pour over the language, long after it’s passage.
But, putting the threat out there that if Congress cannot get it’s act together, then draconian cuts automatically begin, as well as all tax breaks and tax cuts automatically end, should, should tend to force a compromise just to insure that these things don’t happen.

Here’s the genius.

We are not talking about cuts… only unless Congress can’t agree…

We are not talking about new taxes… only unless Congress can’t agree…

Agreement is in our future.

7)

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